One of the largest exchange in China and South East Asia, Huobi, has become the latest validator of the Loom blockchain network. Huobi Wallet is the most popular cryptocurrency wallet in China. The news was announced on Medium by Loom Network.
Loom Network is a blockchain platform for the development of DApps. Loom provides layer 2 functionality and other tools for developers to build Dapps. Loom already has integrations with Ethereum and Tron, with new integrations with Cosmos and EOS on the way.
Loom Network uses DPoS as it’s consensus algorithm. Due to this, the network relies heavily on Validators to validate the transaction. Responsibility of a validator in Loom includes,
With Huobi as a validator, Huobi exchange can now take part in onchain governance of the Loom Network. This news did not have any affect on the price of Loom. Although on the contrary, Loom Network (LOOM) is down by almost 10%. It is currently trading at $0.029.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Geopolitical events often send shockwaves through financial systems. The ongoing is no exception, and it…
The idea that blockchain will change how financial markets work has been around for years.…
South Korea's crypto scene is changing fast. What started as a playground for everyday traders…
Bitcoin Has Seen Many Low Points But One Signal Keeps Appearing Bitcoin price moves in…
NEAR Protocol's AI Turn: Could It Become the ? The crypto market faces tough times…
OKX 2026 Review: Fees, Security, and Trading Features Explained OKX has grown into one of…